House Economics Committee to scrutinise ASIC

THE House Committee on Economics will scrutinise the Australian Securities and Investments Commission (ASIC), as part of its review of the performance and operation of Australia’s corporate regulator.

The Chair of the committee, David Coleman MP, said ‘the hearing will provide the Committee with the opportunity to scrutinise ASIC on its role in promoting investor and consumer confidence, and in enforcing Australian corporate law.’

ASIC regulates Australian companies, financial markets, financial services organisations and professionals who deal and advise in investments, superannuation, insurance, deposit taking and credit. ASIC is empowered to protect consumers against misleading or deceptive and unconscionable conduct affecting all financial products and services, including credit.